The Hyatt Regency Savannah, the 351-room hotel that River Street runs beneath, has new owners: a joint venture of New York-based Certares Real Estate Management and California-based Clearview Hotel Capital, which closed the purchase June 30. JLL arranged a $123.2 million floating-rate acquisition loan from Goldman Sachs, a figure confirmed in an SEC filing; trade press put the full transaction near $158 million, with Ashford Hospitality Trust as the seller.
The new owners say they plan guestroom and guest-facing upgrades. The building's structure encloses a stretch of the Riverwalk, and the city's 2025 waterfront plan recommends arched gateways, better lighting and wayfinding and a mural on the garage face to open up what it calls one of the most underused sections of the riverfront.
Why it matters
The change in ownership reopens the long-running question of whether the public can ever walk the waterfront continuously beneath the hotel.
Sources and documents5 sources
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